Business News

New bitcoin futures suggest breakneck price gains to slow

NEW YORK/LONDON (Reuters) - Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency’s blistering price gains to slow in the coming months. Chicago-based derivatives exchange Cboe Global Markets launched the futures late on Sunday, marking the first time investors could get exposure to the bitcoin market via a large, regulated exchange. The one-month bitcoin contract <0#XBT:>...

11 Dec 8:34 PM 0 Read More...

Wall Street rises with help from technology, energy sectors

NEW YORK (Reuters) - Wall Street indexes were higher on Monday with boosts from technology and energy sectors as oil prices rose while investors prepared for an expected U.S. Federal Reserve rate hike later in the week. The equity market appeared to shrug off an explosion at one of New York’s busiest commuter hubs early on Monday morning that officials called an attempted terrorist attack. The suspect wounded himse...

11 Dec 8:34 PM 0 Read More...

S&P, Dow flat after explosion at New York commuter hub

(Reuters) - The S&P 500 and the Dow were flat in early morning trading on Monday after an explosion rocked New York’s Port Authority, one of the city’s busiest commuter hubs. Police confirmed one suspect is in custody but were yet to identify the device used. Local news channel WABC cited police sources as saying a possible pipe bomb detonated in a passageway below ground at Port Authority. “When you see on...

11 Dec 3:31 PM 0 Read More...

Hackers hit major ATM network after U.S., Russian bank breaches: report

FRANKFURT (Reuters) - A previously undetected group of Russian-language hackers silently stole nearly $10 million from at least 18 mostly U.S. and Russian banks in recent years by targeting interbank transfer systems, a Moscow-based security firm said on Monday. Group-IB warned that the attacks, which began 18 months ago and allow money to be robbed from bank automated teller machines (ATMs), appear to be ongoing and...

11 Dec 3:31 PM 0 Read More...

Bitcoin futures steal spotlight, momentum keeps pushing stocks up

LONDON (Reuters) - World stocks climbed and equity volatility neared a record low on Monday as investors focused on signs of strong economic growth ahead of a slew of central bank rate decisions, while the launch of bitcoin futures fed the market’s cryptocurrency obsession. European stocks drew strength from a positive Asian session to trade higher across the board in early deals, nearing four-week highs as bank st...

11 Dec 10:28 AM 0 Read More...

Ford's November China vehicle sales drop 8 percent year-on-year

(Reuters) - Ford Motor Co’s (F.N) sales in China fell 8 percent in November from a year ago, following a 5 percent decline in October, the U.S. automaker said on Monday. The firm’s sales in the first 11 months of the year totaled 1.06 million vehicles, down 6 percent from the same period a year ago. Ford’s China sales growth has lagged behind rivals in the world’s top auto market this year, with the carmaker ...

11 Dec 10:28 AM 0 Read More...

Bitcoin futures surge past $18,000; Asian shares firm

SYDNEY (Reuters) - The craze for cryptocurrencies entered a new chapter on Monday as bitcoin futures rocketed by one-fifth of their value at a closely-watched launch, while Asian shares climbed amid optimism about global growth. The most-traded contract on the Chicago-based CBOE Global Markets exchange XBTc1 opened at $15,460 in New York on Sunday evening, before leaping to a high of $18,700 - a gain of 21 percent. ...

11 Dec 5:23 AM 0 Read More...

Wall Street closes higher after payrolls report

NEW YORK (Reuters) - U.S. stocks advanced on Friday, buoyed by a solid payrolls report for November that locked in expectations for an interest rate hike from the U.S. Federal Reserve next week and raised optimism about economic prospects in 2018. Technology stocks such as Microsoft (MSFT.O), Apple (AAPL.O) and Oracle (ORCL.N) helped pace the advance, as they continued to rebound from a selloff in the sector earlier ...

08 Dec 9:44 PM 0 Read More...

Bitcoin drops after dramatic gains ahead of futures launch

LONDON/NEW YORK (Reuters) - Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40 percent in the preceding 48 hours, sparking fears the market may be heading for a price collapse. In a hectic day on Thursday, bitcoin leapt from below $16,000 to $19,500 in less than an hour on the U.S.-based GDAX, one of the biggest exchanges globally, while it was still changing hands at about $15...

08 Dec 9:44 PM 0 Read More...

Trump says fines against Wells Fargo could be increased

WASHINGTON/NEW YORK (Reuters) - President Donald Trump took aim at the third-largest U.S. bank on Friday, writing on Twitter that government fines and penalties against Wells Fargo & Co could be hiked amid an ongoing sales scandal. “Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if...

08 Dec 9:44 PM 0 Read More...